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The accounting records of From the Earth Ceramics included the following at January 1, 2024: (Click the icon to view the data.) In the
The accounting records of From the Earth Ceramics included the following at January 1, 2024: (Click the icon to view the data.) In the past, From the Earth's warranty expense has been 8% of sales. During 2024, From the Earth made sales of $178,000 and paid $8,500 to satisfy warranty claims. Read the requirements. Requirement 1. Journalize From the Earth's warranty expense and warranty payments during 2024. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the warranty expense. Date Accounts Debit Credit Requirements 1. Journalize From the Earth's warranty expense and warranty payments during 2024. Explanations are not required. 2. What balance of Estimated Warranty Payable will From the Earth report on its balance sheet at December 31, 2024? Data table Estimated Warranty Payable 4,000 Beg. Bal. Print Done - X Print Done
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